WASHINGTON - Thrift profits rose 16.4% in the second quarter, to $1.35 billion, the Office of Thrift Supervision reported Monday.

Federal regulators attributed the increase to lower interest rates, which boosted the value of mortgage-backed securities in thrifts' portfolios. The percentage of troubled assets also declined, to 1.27% on June 30 from 1.34% at the end of the first quarter.

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